PACCAR Inc (NASDAQ:PCAR) Shares Purchased by TIAA Trust National Association

TIAA Trust National Association raised its stake in PACCAR Inc (NASDAQ:PCAR) by 19.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,479 shares of the company’s stock after purchasing an additional 558 shares during the quarter. TIAA Trust National Association’s holdings in PACCAR were worth $362,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in shares of PACCAR by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after purchasing an additional 178,813 shares during the period. Townsquare Capital LLC grew its stake in PACCAR by 36.1% during the third quarter. Townsquare Capital LLC now owns 11,133 shares of the company’s stock worth $1,099,000 after buying an additional 2,951 shares during the period. Fiduciary Trust Co increased its position in shares of PACCAR by 33.3% in the third quarter. Fiduciary Trust Co now owns 13,012 shares of the company’s stock worth $1,284,000 after acquiring an additional 3,250 shares in the last quarter. Public Sector Pension Investment Board raised its stake in shares of PACCAR by 13.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 22,850 shares of the company’s stock valued at $2,255,000 after acquiring an additional 2,700 shares during the period. Finally, Isthmus Partners LLC purchased a new position in shares of PACCAR in the 3rd quarter valued at $6,276,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Price Performance

Shares of PCAR stock opened at $96.91 on Friday. The firm has a fifty day moving average of $105.19 and a two-hundred day moving average of $106.55. The firm has a market cap of $50.87 billion, a P/E ratio of 12.25, a P/E/G ratio of 2.77 and a beta of 0.91. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $124.39. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. As a group, research analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.36%. This is an increase from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. PACCAR’s payout ratio is 16.69%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PCAR. Evercore ISI lowered their price target on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Melius Research set a $120.00 target price on PACCAR in a research note on Tuesday, March 18th. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and raised their target price for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. JPMorgan Chase & Co. decreased their price target on PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Finally, Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research note on Friday, December 6th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $118.38.

Insider Activity at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the sale, the vice president now owns 5,463 shares in the company, valued at $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Darrin C. Siver sold 103,671 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the completion of the transaction, the executive vice president now owns 61,005 shares in the company, valued at approximately $6,805,717.80. The trade was a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 165,547 shares of company stock valued at $18,261,908. Corporate insiders own 2.02% of the company’s stock.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.